Civic Intelligence

Incubate

990 • Fiscal year 2021 • EIN 85-4136963

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileWWW.INCUBATECOALITION.ORG
1333 H Street NW 800EWashington, DC 20005

(202) 971-3450

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.13x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.01x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Net Margin

33rd percentile

3.2%

Higher net margin than 33% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets63rd percentile

Assets

$239,450

No earlier filing loaded for comparison.

Net Assets

$207,450

No earlier filing loaded for comparison.

Liabilities

$32,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin33rd percentile

Revenue

$2,275,055

No earlier filing loaded for comparison.

Expenses

$2,202,719

No earlier filing loaded for comparison.

Net Income

$72,336

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2021: $239,450Liabilities 2021: $32,000Net Assets 2021: $207,4502021Assets 2022: $194,061Liabilities 2022: $0Net Assets 2022: $194,0612022Assets 2023: $112,251Liabilities 2023: $0Net Assets 2023: $112,2512023Assets 2024: $967,600Liabilities 2024: $305,073Net Assets 2024: $662,5272024

Highlighted filing

2021

Assets$239,450
Liabilities$32,000
Net Assets$207,450
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $2,275,055Expenses 2021: $2,202,719Net Income 2021: $72,3362021Revenue 2022: $715,051Expenses 2022: $728,440Net Income 2022: -$13,3892022Revenue 2023: $995,261Expenses 2023: $1,077,071Net Income 2023: -$81,8102023Revenue 2024: $1,800,052Expenses 2024: $1,249,776Net Income 2024: $550,2762024

Highlighted filing

2021

Revenue$2,275,055
Expenses$2,202,719
Net Income$72,336
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$2,275,055
Mission and Program Overview

Mission

We help ensure patients continue to benefit from the unrelenting innovation spurred by venture capital investment in life sciences and protected by america's intellectual property system.

Incubate is a 501(c)(4) organization of venture capital firms representing the patient, corporate, and investment communities, whose primary aim is to educate policymakers on the role of investments in bringing promising treatments to patients in need. Incubate helps to ensure patients continue to benefit from the unrelenting innovation spurred by venture capital investment in the life sciences and protected by america's intellectual property system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$199,450-
Pledges and Grants Receivable$150,000--
Accounts Receivable-$40,000-
Total Assets$150,000$239,450▲ $89,450
Liabilities
Accounts Payable and Accrued Expenses$14,885$32,000▲ $17,115
Total Liabilities$14,885$32,000▲ $17,115
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$135,115$207,450▲ $72,335
Total Net Assets Fund Balance$135,115$207,450▲ $72,335
Total Liabilities and Net Assets / Fund Balance$150,000$239,450▲ $89,450
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Lindsay AndroskiPresident
Steve GibsonSecretary
Janis NaeveTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Prism Strategy INCConsulting Services1333 H STREET NW SUITE 800E, Washington, DC 20005$407,500
Revenue and Support

Revenue Composition

Contributions and Grants
$720,000
Program Service Revenue
$1,555,025
Investment Income
$30
Other Revenue
$0
All Other Contributions
$720,000
Change in Net Assets
$72,336
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,177,719
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$1,661,584--$1,661,584
Fees for Services Other$394,343--$394,343
Fees for Services Lobbying$80,000--$80,000
Grants to Domestic Orgs$25,000--$25,000
Fees for Services Accounting-$24,000-$24,000
Fees for Services Legal-$13,522-$13,522
Office Expenses$4,270--$4,270
Total Functional Expenses$2,165,197$37,522$0$2,202,719
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Springboard 2000 Enterprises IncMclean, VA501(c)(3)To Support the Health Innovation Program$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$80,000
Total Nondeductible Lobbying and Political Cost$80,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no such committees.”

Form 990, Part VI, Section B, Line 11B

“The organization's form 990 is provided to the board of directors prior to filing for their review.”

Form 990, Part VI, Section B, Line 12C

“It is the responsibility of all persons in positions of trust to disclose potential conflicts of interest on an annual basis, and more often if matters arise, all officers, members of the board of directors, volunteers, and employees shall be provided with a copy of the conflict of interest policy and be required to complete and sign the acknowledgment and disclosure form. All completed forms, as well as other conflicts of interest information provided, shall be forwarded to and reviewed by incubate's president. Incubate's president shall forward such information on potential or actual conflicts of interest to outside counsel, which will review the information and recommend whether further action may be warranted.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Incubate
EIN
85-4136963
Phone
2029713450
Address
1333 H STREET NW 800E, WASHINGTON, DC 20005

Signing Officer

Name
Lindsay Androski
Title
President
Phone
2029713450
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsay Androski
Formed
2020
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Helferbell LLC
Address
1101 CONNECTICUT AVE NW SUITE 410, WASHINGTON, DC 20036
Preparer
Alan S Helfer
Phone
2026295190
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Cnsultants: program service expenses 394,343. Management and general expenses 0. Fundraising expenses 0. Total expenses 394,343.”

Financial Statement Notes

PART X, LINE 2:

“Incubate is a nonprofit organization exempt from the payment of taxes on income other than net unrelated business income under section 501(c)(4) of the internal revenue code. No provision for income taxes is required for the year ended december 31, 2021, as the organization had no net unrelated business income.”

Raw XML Appendix324 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0INCUBATE IS A 501(C)(4) ORGANIZATION OF VENTURE CAPITAL FIRMS REPRESENTING THE PATIENT, CORPORATE, AND INVESTMENT COMMUNITIES, WHOSE PRIMARY AIM IS TO EDUCATE POLICYMAKERS ON THE ROLE OF INVESTMENTS IN BRINGING PROMISING TREATMENTS TO PATIENTS IN NEED. INCUBATE HELPS TO ENSURE PATIENTS CONTINUE TO BENEFIT FROM THE UNRELENTING INNOVATION SPURRED BY VENTURE CAPITAL INVESTMENT IN THE LIFE SCIENCES AND PROTECTED BY AMERICA'S INTELLECTUAL PROPERTY SYSTEM.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCUBATE IS A NONPROFIT ORGANIZATION EXEMPT FROM THE PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. NO PROVISION FOR INCOME TAXES IS REQUIRED FOR THE YEAR ENDED DECEMBER 31, 2021, AS THE ORGANIZATION HAD NO NET UNRELATED BUSINESS INCOME.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO SUCH COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IT IS THE RESPONSIBILITY OF ALL PERSONS IN POSITIONS OF TRUST TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS, AND MORE OFTEN IF MATTERS ARISE, ALL OFFICERS, MEMBERS OF THE BOARD OF DIRECTORS, VOLUNTEERS, AND EMPLOYEES SHALL BE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY AND BE REQUIRED TO COMPLETE AND SIGN THE ACKNOWLEDGMENT AND DISCLOSURE FORM. ALL COMPLETED FORMS, AS WELL AS OTHER CONFLICTS OF INTEREST INFORMATION PROVIDED, SHALL BE FORWARDED TO AND REVIEWED BY INCUBATE'S PRESIDENT. INCUBATE'S PRESIDENT SHALL FORWARD SUCH INFORMATION ON POTENTIAL OR ACTUAL CONFLICTS OF INTEREST TO OUTSIDE COUNSEL, WHICH WILL REVIEW THE INFORMATION AND RECOMMEND WHETHER FURTHER ACTION MAY BE WARRANTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CNSULTANTS: PROGRAM SERVICE EXPENSES 394,343. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 394,343.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$239,450
Liabilities
$32,000
Net assets
$207,450
Revenue
$2,275,055
Expenses
$2,202,719
Net income
$72,336
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.97$0.31$0.66$1.80$1.25$0.55
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.00$0.11$1.00$1.08$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.72$0.73$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.24$0.03$0.21$2.28$2.20$0.07